Celsius Resources (ASX:CLA) secured firm commitments to raise AU$9.3 million through the placement of 465 million shares at AU$0.02 apiece, according to a Monday filing with the Australian bourse.

The placement also involves one free-attaching option for every two shares subscribed for at an exercise price of AU$0.035 each and an expiry of three years from the date of issue, the filing said.

In tranche one, 463.3 million shares will be issued, while 1.8 million shares will be issued in tranche two, along with 232.5 million options, subject to shareholder approval.

Funds raised will be used for corporate working capital purposes throughout the year, including funds available to support the financing process of the Maalinao-Caigutan-Biyog project in the Philippines, per the filing.